A recently commissioned report by a group of MPs states a new system of energy rationing is required to fully tackle fuel poverty and ensure cuts in greenhouse gas emissions across the UK.

The introduction of Tradable Energy Quotas (TEQs), where credits are issued free to all adults would “ensure fair and equal entitlements to fuel and energy”.  All surplus TEQs could be bought and sold, meaning there is no limit placed on the number of credits an individual could own. Both public and private sector organisations would be required to bid for their credits via a weekly tender.

Shaun Chamberlin, Director of the Lean Economy Connection and author of the report, suggests, “Tradable Energy Quotas are the only way we can reduce carbon emissions and at the same time guarantee that everyone gets fair access to limited energy supplies”.

The proposed move comes as data shows that the UK have for the first time become a net fuel importer and can be seen as the first step towards nationalisation of the hugely profitable energy industry. In an environment where the existing oligopolistic ‘big six’ suppliers are almost seen to have complete disregard for rules and regulation, this can only be seen as a positive move; in which Government intervention is required to create a truly competitive market.